USD/CNH: Firm support aligns around 6.8400 – UOB – by pabspiovano China Currencies Crosses Banks
should not be ruled out for the time being, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “Yesterday, we indicated that USD ‘is likely to drift lower but is unlikely to challenge the support at 6.8700’. Our view turned out to be correct as USD dipped to a low of 6.8714 before rebounding. The underlying tone still appears to be soft, but while USD could dip below 6.8700 today, the next support at 6.8560 is unlikely to come into view.
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